Clarity Gold Corp. (CSE: CLAR) (OTC: CLGCF) (FSE: 27G) announces that it has closed its previously announced non-brokered private placement, pursuant to which it has issued 2,054,405 common shares in the capital of the Company issued on a “flow-through” basis pursuant to the Income Tax Act (Canada) and to the Taxation Act (Québec) at a price of $1.85 per Share for gross proceeds of $3,800,649.25.

“Having also recently completed a hard dollar financing of approximately $4.5 million, Clarity is now fully funded to carry out its next objectives as we get ready to commence drilling on the Destiny Project,” said James Rogers, CEO of Clarity. “We are very pleased with the reception of this financing, and look forward to getting our first drill program underway with a strong treasury.”

The Company intends to use the proceeds from the Offering for exploration expenditures in connection with the Company’s Destiny Project.

All securities issued under the Offering are subject to a statutory hold period expiring four months and one day from the date of closing of the Offering. The Company paid cash finder’s fees of $266,045.45 and issued an aggregate of 143,808 finder’s share purchase warrants to certain finders in connection with the Offering, with each Finder’s Warrant entitling the holder to acquire one Share on a non “flow-through” basis at a price of $1.85 per Finder’s Warrant until March 5, 2022, subject to any additional terms contained in the finder’s warrant certificate.

None of the securities sold in connection with the Offering will be registered under the United States Securities Act of 1933, as amended, and no such securities may be offered or sold in the United States absent registration or an applicable exemption from the registration requirements. This news release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in any jurisdiction in which such offer, solicitation or sale would be unlawful.

About the Destiny Project

The 5,013 ha Destiny Project is located in the prolific Abitibi Greenstone Belt along a major structural break which is largely underexplored. The project has excellent infrastructure, with road access approximately 75 km NNE of the city of Val d’Or and has considerable work done to date including over 50,000 m of diamond drilling.

About Clarity

Clarity Gold Corp. is a Canadian mineral exploration company focused on the acquisition, exploration and development of gold projects in Canada. The Company has entered into an option agreement to purchase 100% of the Destiny Project, Clarity’s flagship asset, a gold-focused project in the mineral rich Abitibi region in Quebec. The Company is based in Vancouver, British Columbia, and is listed on the CSE.